Author: Sreelatha M

Categories
Corporate

Sensex climbs over 250 points, Nifty tops 24,100

Markets opened on a firm note on Thursday, with investors taking encouragement from positive global cues despite growing geopolitical tensions in the Middle East. The BSE Sensex climbed over 250 points in early trade, while the NSE Nifty crossed the 24,100 mark, extending the previous session’s gains. Softer-than-expected US inflation data lifted hopes that the US Federal Reserve may delay further interest rate hikes, improving sentiment across global equity markets.

The rally came even as crude oil prices stayed near $86 a barrel, marking the fourth straight day of gains following fresh US military strikes on Iran. Rising oil prices have kept investors cautious because prolonged supply disruptions could increase inflationary pressures and impact corporate earnings. However, domestic investors largely focused on the ongoing June-quarter earnings season and stock-specific opportunities.

Financial and technology stocks remained in the spotlight. HDB Financial Services surged more than 4% after reporting a 38% year-on-year jump in June-quarter profit, supported by strong net interest income and improved asset quality. HDFC Life also traded higher after posting healthy quarterly earnings. In the IT space, HCL Tech, Wipro and Tech Mahindra attracted buying ahead of their earnings announcements, helping the Nifty IT index outperform the broader market.

Among the early gainers were HDB Financial Services, HDFC Life, HCL Tech, Wipro and Tech Mahindra. On the losing side, ICICI Lombard declined sharply after disappointing quarterly results, while ICICI Prudential Life and UltraTech Cement also remained under pressure. Investors continued to monitor movements in banking and insurance stocks as earnings season gathered pace.

Market experts believe the near-term direction will depend on corporate earnings, crude oil prices and developments in the Middle East. While global uncertainty remains high, resilient domestic buying, improving earnings expectations and optimism around interest rates have helped Indian equities maintain their upward momentum. Analysts expect markets to remain volatile but believe stock-specific action will continue to dominate trading sessions in the coming days.

Also Read: Fed Chief Warsh reaffirms strong fight against inflation

Categories
Technology

OpenAI develops AI-powered speaker

OpenAI is reportedly working on its first consumer hardware device, a screenless AI speaker designed to make conversations with artificial intelligence feel more personal and lifelike. The product is expected to combine advanced voice technology with physical movement, offering a different approach from traditional smart speakers.

The device is being developed with input from legendary designer Jony Ive, the former Apple executive known for designing products such as the iPhone and iMac. Rather than featuring a display, the speaker is expected to rely on natural conversations, environmental awareness and gentle movements that help create a stronger sense of interaction.

According to reports, the AI speaker will be able to detect where users are in a room and respond by turning or adjusting its position. These movements are intended to make the assistant appear more attentive, giving users the feeling that it is actively participating in conversations instead of simply responding to commands.

The hardware is expected to be powered by OpenAI’s latest artificial intelligence models, allowing it to answer questions, manage reminders, assist with daily tasks and connect with other smart home devices. Unlike existing voice assistants, the company is aiming for richer conversations that better understand context and user intent.

The reported project highlights OpenAI’s growing interest in expanding beyond AI software into dedicated hardware. The move follows the company’s acquisition of Jony Ive’s AI hardware venture, signalling a long-term strategy to create products built specifically around generative AI.

Although OpenAI has not confirmed the product or revealed technical details, reports indicate the company is focused on creating a device that feels approachable rather than intrusive. The absence of a screen is expected to encourage users to engage naturally through speech instead of constantly looking at a display.

Also Read: India, UK seal CETA

Categories
1 Minute-Read

IBM misses revenue estimates on weak client spending

IBM reported weaker-than-expected second-quarter revenue as enterprise customers delayed technology spending amid economic uncertainty.

The company said cautious client budgets slowed new project approvals, affecting sales despite continued demand for artificial intelligence and hybrid cloud solutions. IBM highlighted growing interest in its watsonx AI platform but said stronger AI demand could not fully offset weakness in other businesses.

Following the results, the company’s shares declined as investors reacted to the revenue miss. IBM remains optimistic about its long-term growth strategy, betting that AI, software and consulting services will drive future performance once enterprise spending recovers.

Categories
Leaders

DeepMind chief urges global standards for Frontier AI

Google DeepMind CEO Demis Hassabis has called for the creation of a US-led international body to develop common standards for frontier artificial intelligence, saying global cooperation is essential as AI systems become increasingly powerful.

Speaking at a technology event in Washington, Hassabis said advanced AI is progressing at an extraordinary pace and requires coordinated oversight to ensure it is developed safely and responsibly. He argued that countries should work together instead of creating fragmented regulations that could slow innovation or leave safety gaps.

According to Hassabis, the proposed organisation could play a role similar to international scientific bodies by bringing together governments, researchers and technology companies to establish shared guidelines for developing cutting-edge AI models. He believes common standards would help manage risks while allowing innovation to continue.

His comments come as governments around the world are racing to introduce AI regulations amid rapid advances in generative AI. While many countries have announced national policies, experts have increasingly called for greater international coordination because AI technologies can easily cross borders.

Hassabis also stressed that frontier AI systems have enormous potential to improve healthcare, scientific research, education and productivity. However, he warned that the same technologies could create serious risks if developed without proper safeguards, transparency and accountability.

The DeepMind chief said the United States is well placed to lead such an initiative because of its strong research ecosystem and the presence of many of the world’s leading AI companies. At the same time, he emphasised that any standards body should involve broad international participation to ensure global acceptance.

His remarks reflect growing debate within the technology industry over how best to govern increasingly capable AI models. Companies, policymakers and researchers continue to discuss issues such as safety testing, responsible deployment, transparency and security as AI adoption accelerates.

Also Read: Pankaj Pawar takes charge as Jio Platforms CEO

Categories
Corporate

TCS chosen to power JFK Airport’s new terminal

Tata Consultancy Services (TCS) has been selected as the strategic technology and innovation partner for New York’s upcoming Terminal One at John F. Kennedy International Airport (JFK), marking a major global infrastructure technology win for the Indian IT services company.

The partnership will see TCS provide digital solutions, technology expertise and innovation support for the new terminal, which is part of the $9.5 billion redevelopment project at JFK Airport. The new Terminal One is expected to become one of the largest international terminals in the United States once completed.

As part of the agreement, TCS will help design and implement advanced technology systems aimed at improving passenger experiences, operational efficiency and airport management. The company’s role will focus on creating a more connected and digitally driven airport environment using technologies such as artificial intelligence, data analytics, automation and cloud solutions.

The project is being developed by The New Terminal One, a private consortium responsible for delivering and operating the new facility. The terminal is designed to handle growing international travel demand while offering modern passenger facilities and sustainable infrastructure.

TCS said its partnership will support the vision of building a next-generation airport that combines technology with better customer experiences. The company will bring its global experience in areas such as digital transformation, enterprise technology and large-scale systems integration to the project.

For TCS, the JFK Terminal One contract strengthens its presence in the global transportation and aviation technology sector. The company already works with organisations worldwide on digital upgrades, helping businesses and public infrastructure providers improve efficiency through technology.

The partnership also highlights the increasing role of Indian technology companies in major global infrastructure projects. As airports worldwide invest in smart technologies, companies like TCS are becoming key partners in developing digital ecosystems that improve security, convenience and operational performance.

Also Read: Mylan exits Biocon after selling entire stake

Categories
Corporate

Mylan exits Biocon after selling entire stake

Mylan has exited Biocon after selling its entire stake in the Bengaluru-based biotechnology company, marking the end of a long association between the two firms. The transaction involved Mylan’s 5.64% holding in Biocon and was completed through a block deal worth around ₹3,679 crore.

The stake sale attracted strong interest from several major institutional investors, including mutual funds, foreign portfolio investors and global financial institutions. Among the buyers were names such as Morgan Stanley, ICICI Prudential Mutual Fund, Goldman Sachs and Citigroup, which participated in acquiring the shares from Mylan.

Following the deal, Biocon’s stock gained investor attention, with shares rising nearly 6% as markets reacted to the ownership change. Analysts said the transaction improved liquidity in the stock and brought in a wider group of institutional shareholders.

Mylan, a global pharmaceutical company, had been associated with Biocon for several years, particularly through its partnership in biosimilars. The collaboration helped Biocon expand its presence in global markets, especially in the areas of insulin, oncology and other complex biologic medicines.

The stake sale comes as Biocon continues to focus on expanding its global biosimilars business and strengthening its position in regulated markets. The company has been investing in research, manufacturing capabilities and international partnerships to grow its presence in the global pharmaceutical sector.

Also Read: DeepSeek eyes fresh funding after $7 bn

Categories
Leaders

Pankaj Pawar takes charge as Jio Platforms CEO

Jio Platforms has appointed Pankaj Pawar as its new Chief Executive Officer (CEO), marking a key leadership change as the Reliance Industries digital arm moves closer to its planned initial public offering (IPO).

Pawar, who is already the Managing Director of Reliance Jio Infocomm, will take over the top role at Jio Platforms. He replaces Kiran Thomas, who stepped down from the CEO position as the company prepares for its next phase of growth.

The appointment comes at an important time for Jio Platforms, which is expected to launch one of India’s biggest IPOs. The company is reportedly aiming to raise around $4 billion through the public offering, which could unlock significant value for Reliance’s telecom and digital businesses.

Pawar is a long-time Reliance executive and has played a key role in managing Jio’s telecom operations. His appointment brings the leadership of Jio Platforms and Reliance Jio Infocomm closer together, as the company focuses on expanding its digital ecosystem.

Over the years, Jio Platforms has grown beyond telecom services, building a wide range of digital offerings across entertainment, cloud services, artificial intelligence, financial technology and consumer platforms. The upcoming IPO is expected to give investors an opportunity to participate in one of India’s largest digital businesses.

The leadership transition also signals Jio Platforms’ focus on strengthening its corporate structure before entering public markets. Investors will closely watch the company’s IPO plans, valuation expectations and future growth strategy as it prepares for the listing.

With Pawar now at the helm, Jio Platforms enters a crucial period where it must balance rapid expansion, technology investments and shareholder expectations. The company’s market debut could become a major milestone for India’s technology and telecom sectors.

Also Read: DeepSeek eyes fresh funding after $7 bn

Categories
Corporate

Udaan secures $160 mn ahead of planned IPO

Business-to-business (B2B) e-commerce platform Udaan has raised $160 million in a structured financing round as the Bengaluru-based company strengthens its financial position ahead of its planned initial public offering (IPO).

The latest funding includes investments from existing investors and debt partners, reflecting continued confidence in Udaan’s efforts to improve profitability while expanding its business. The company said the fresh capital will be used to reinforce its balance sheet, support long-term growth and accelerate preparations for a public listing.

Along with the financing, Udaan announced that it has completed the acquisition of TrustRoot, a fintech platform focused on supply chain financing. The acquisition is expected to enhance Udaan’s embedded financial services by offering improved credit and working capital solutions to retailers, wholesalers and small businesses using its platform.

The company believes integrating TrustRoot’s technology and expertise will strengthen its financial ecosystem and help improve access to credit for merchants, an important requirement for India’s rapidly growing B2B commerce market.

Founded in 2016, Udaan connects manufacturers, wholesalers, retailers and traders through its digital marketplace, enabling businesses to source products across categories including grocery, electronics, lifestyle, pharmaceuticals and general merchandise. Over the past few years, the company has shifted its focus from aggressive expansion to improving operational efficiency and reducing losses.

The fresh funding comes as Udaan continues to report progress in lowering cash burn, improving contribution margins and building a more sustainable business model. These measures are seen as key steps before entering the capital markets.

India’s startup ecosystem has witnessed renewed investor interest in companies demonstrating a clear path to profitability, and Udaan’s latest financing reflects that trend. The company is expected to use the additional capital to strengthen technology, expand financial services and improve customer experience while maintaining disciplined growth.

Also Read: FDA suspends licences of 3 iconic Mumbai eateries

Categories
Corporate

Tata Capital buys 88.6% stake in Yogloans

Tata Capital is set to enter India’s fast-growing gold loan market by acquiring an 88.6% stake in Kerala-based non-banking finance company (NBFC) Yogloans. The acquisition marks a significant step in Tata Capital’s strategy to diversify its lending portfolio and strengthen its presence in retail finance.

The transaction, subject to regulatory approvals, will give Tata Capital access to Yogloans’ established gold loan business, branch network and customer base. Founded in 2008, Yogloans specialises in loans against gold jewellery and has built a strong presence, particularly in southern India.

Gold loans have emerged as one of the fastest-growing segments in India’s lending market, driven by rising demand for quick, secured credit from households and small businesses. By acquiring Yogloans instead of building a business from scratch, Tata Capital aims to accelerate its expansion in this high-growth segment.

Industry experts say the deal will enable Tata Capital to leverage its financial strength and digital capabilities while benefiting from Yogloans’ expertise in gold-backed lending. The acquisition is also expected to enhance Tata Capital’s product offerings and strengthen its competitive position against established players in the sector.

The move comes at a time when demand for secured loans continues to rise amid favourable gold prices and increasing financial inclusion. Gold loans remain popular because they offer quick disbursal, minimal documentation and relatively lower borrowing costs.

For Yogloans, becoming part of the Tata Group is expected to provide access to capital, technology and a wider customer network, supporting its future growth.

Also Read: Satya Nadella warns of AI information paradox

Categories
Leaders

Satya Nadella warns of AI information paradox

Microsoft CEO Satya Nadella has cautioned businesses about what he calls the “reverse information paradox”, warning that the rapid rise of artificial intelligence could leave organisations overwhelmed with data while making it harder to access meaningful knowledge.

Speaking about the changing role of AI in the workplace, Nadella said companies today generate enormous volumes of information through emails, documents, meetings, chats and digital tools. However, instead of making employees better informed, this flood of data can make it more difficult to find the right information when it is needed.

According to Nadella, AI has the potential to solve this problem, but only if organisations rethink how they manage and organise their knowledge. He stressed that businesses should focus on creating structured, high-quality information that AI systems can easily understand and retrieve, rather than simply accumulating more data.

The Microsoft chief said many companies risk investing heavily in AI without first addressing the quality and accessibility of their internal information. Poorly organised data, he noted, can limit the effectiveness of AI tools and reduce productivity instead of improving it.

Nadella encouraged organisations to redesign workflows so that AI can help employees quickly discover relevant insights, automate routine tasks and support better decision-making. He said businesses that successfully integrate AI with well-managed knowledge systems are likely to gain a significant competitive advantage.

His remarks come as companies across the world accelerate investments in generative AI, using the technology to improve customer service, software development, data analysis and workplace productivity. While AI adoption is growing rapidly, experts say many organisations still struggle with fragmented and unstructured information spread across multiple platforms.

Nadella’s warning highlights that the success of AI depends not only on advanced technology but also on the quality of the information it uses. Businesses that fail to organise their data effectively may find that more information does not always translate into better decisions.

Also Read: Government releases digital threat report